Roget Factory has budgeted factory overhead for the year at $4,037,500. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 323,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate (rounded to the nearest cent) for the year is

a. $12.50

b. $6.25

c. $16.25

d. $60.00